20 LPL Financial Interview Questions and Answers

When it comes to interviews, preparation is key. And when you’re interviewing with a specific company, it’s important to do your research and be prepared to answer questions about the company itself.

If you’re interviewing with LPL Financial, you’re in luck. We’ve compiled a list of some common questions that you may be asked about the company, as well as some sample answers to help you prepare.

So whether you’re interviewing for a job at LPL Financial or just want to be prepared for a potential interview in the future, read on for some helpful tips.

LPL Financial Interview Process

The interview process at LPL Financial can vary depending on the position you are applying for. However, most positions will require at least two rounds of interviews, often with different team members. The questions asked in the interviews can range from general resume questions to more technical modeling questions. Overall, the interview process is well managed and efficient.

1. Why do you want to work at LPL Financial?

This question is a great way for the interviewer to learn more about your interest in their company. When preparing for this interview, make sure you research LPL Financial and understand what makes it unique. Consider sharing something specific that attracted you to the company.

Example: “I have always been interested in financial services, so I decided to pursue a career as a broker. After researching different companies, I found out that LPL Financial was the largest independent broker-dealer in the United States. This really impressed me because I am someone who likes to work with smaller businesses rather than larger corporations. I also learned that LPL Financial has an excellent reputation within the industry.”

2. Do you have any experience working with clients in the financial industry?

This question is an opportunity to show the interviewer that you have experience working with clients in a financial setting. If you do, share your experiences and how they helped you develop skills that will help you succeed at LPL Financial.

Example: “I worked as a financial advisor for five years before moving to my current position. During this time, I gained valuable experience helping clients make important financial decisions. This experience taught me how to communicate effectively with clients and gave me insight into what types of clients are most successful when it comes to investing.”

3. What financial services or products are you most familiar with?

This question is a great way to show the interviewer that you have experience in the financial services industry. It’s also an opportunity for you to demonstrate your knowledge of LPL Financial products and services. When answering this question, try to include information about specific products or services that are unique to LPL Financial.

Example: “I am most familiar with stocks, bonds, mutual funds and ETFs. I’ve worked as a stockbroker for five years now, so I’m confident in my ability to help clients make smart investment decisions. In fact, one of my favorite parts of working at LPL Financial is helping clients find the right investments for their needs.”

4. In your opinion, what is something that LPL Financial can improve on?

This question is a great way to show your knowledge of the company and how you can help it grow. When answering this question, make sure that you are being honest about what you think LPL Financial could improve on while also showing that you have some ideas for improvement yourself.

Example: “I believe that LPL Financial should focus more on its customer service. I’ve spoken with many people who work at LPL Financial, and they all agree that there needs to be an increase in customer service training. This would allow employees to better serve their clients and provide them with the best experience possible.”

5. How would you evaluate a new client’s financial situation and goals?

This question is an opportunity to show your expertise and knowledge of the financial industry. Use examples from past experiences when you helped clients create a plan for their finances.

Example: “When I meet with new clients, I first want to get to know them as people. I ask about their family life, what they do in their free time and how they feel about their current financial situation. This helps me understand where they are coming from and gives me insight into what they hope to achieve through our relationship. After we discuss their goals, I evaluate their current financial situation by asking questions about their income, expenses and investments.”

6. Talk about a time where you had to handle an angry customer.

This question is a great way to see how you handle conflict and stress. It’s important for customer service professionals to be able to diffuse situations with customers, so it’s important that the interviewer knows you can do this effectively.

Example: “I had an angry client once who called me because he was upset about his account. He said I hadn’t been doing my job well and that he wanted to speak to someone else. I calmly explained to him that I have been working on his account for over two years and that I would be happy to look into any issues he may have. After looking at his account, I realized there were some mistakes made by our company and apologized profusely. He accepted my apology and we worked together to fix the issue.”

7. Tell me about a time when you were able to provide solutions for a difficult problem.

This question is a great way to show your problem-solving skills and ability to work through challenges. When answering this question, it can be helpful to provide an example of how you used critical thinking to solve the issue.

Example: “At my previous job, I was working with a client who had several different accounts at various brokerages. They were looking for ways to consolidate their accounts so they could save money on fees. After speaking with them about their financial goals, we decided that opening a self-directed IRA would be best for them because it would allow them to invest in more types of assets. We opened the account and transferred all of their other accounts into it.”

8. What do you think makes a good leader?

LPL Financial is a large company with many employees. The interviewer wants to know that you understand what it takes to be an effective leader and how your leadership style can help the company succeed. Use examples from your past experience to show that you have strong leadership skills.

Example: “I think a good leader should be someone who is able to motivate others, communicate effectively and solve problems. In my last position as a financial advisor at XYZ Financial Group, I was responsible for managing a team of advisors. One day, one of my advisors came to me because she had a client who wanted to invest in a particular stock but didn’t want to pay any commission fees. I told her that we could find another way to make money on the trade without charging the client. She was happy with my solution and ended up making more money than if she had charged the client.”

9. Can you give us examples of ways that you provided excellent service to clients before?

LPL Financial wants to know that you have experience providing excellent customer service. This is an important part of the job, so they want to make sure you can do it well. When answering this question, think about a time when you helped a client with their financial needs and made them feel valued.

Example: “I once had a client who was looking for a new investment strategy because his current one wasn’t working out as well as he hoped. I spent some time talking with him about his goals and what he wanted from his investments. Then, I recommended several different options that would help him reach those goals while also being within his budget. He ended up choosing one of my recommendations and has been happy with it ever since.”

10. What kind of strategies do you use to help customers reach their financial goals?

LPL Financial wants to know that you can help their clients reach their financial goals. They want to see that you have experience with helping customers create a budget, saving for retirement and other similar tasks. Use examples from your previous job or talk about what you would do if you were hired at LPL Financial.

Example: “I use several strategies to help my customers reach their financial goals. I start by asking them questions about their current situation and how they feel about it. Then, I ask them what they hope to achieve in the future. From there, I work with them to create a plan that will get them where they want to be. I also make sure to educate them on any risks so they are aware of everything.”

11. If two clients come in with different needs, how do you determine who gets first priority?

Interviewers want to know that you can prioritize clients based on their needs and not just by who walks in the door first. Use examples from your experience where you had to do this, and explain how you made the decision.

Example: “In my previous role as a financial advisor, I worked with two different types of clients. One was an older couple looking for advice on retirement planning, while the other was a young family looking for help saving for their child’s college fund. In both cases, I determined which client needed more immediate attention based on their current situation. The family with the child still in high school got priority over the retired couple.”

12. Are you comfortable working independently?

LPL Financial is a large company with many employees, but it also has an independent contractor program that allows you to work for the company without being an employee. This question helps employers determine if you are comfortable working independently and whether you would be interested in this type of arrangement.

Example: “I am very comfortable working independently. I have been doing so for several years now, and I find it quite enjoyable. In fact, I prefer working on my own because I can set my own schedule and choose which projects I want to take on. However, I do enjoy collaborating with others as well, so I think I would be happy working at LPL Financial.”

13. Have you ever worked in a position where you needed to meet certain quotas? How did you handle it?

LPL Financial wants to know that you can handle pressure and perform well under it. This is a common question for employers to ask because they want to make sure you have experience working in this type of environment.

Example: “Yes, I’ve worked in positions where quotas were necessary. In my last position as an investment advisor, we had monthly goals to meet. If we didn’t reach our goal one month, we would need to work harder the next month to make up for it. I understand how important quotas are for businesses, so I always made sure to do everything I could to help my team achieve them.”

14. Are you willing to obtain additional certifications if necessary?

LPL Financial may ask this question to determine if you’re willing to take on additional training and education. When preparing for your interview, think about the certifications that are most relevant to the position. If you don’t have any applicable certifications, explain what steps you would take to obtain them.

Example: “I am currently pursuing my Certified Financial Planner certification through the CFP Board of Standards. I understand that LPL Financial requires all financial advisors to be CFP certified within two years of hire. I plan to complete the exam by the end of next year.”

15. Describe a time that you had to go above and beyond for a client.

This question is a great way to show your dedication and willingness to go the extra mile for clients. When answering this question, it can be helpful to describe a specific situation where you went above and beyond for a client and how that helped them or made their experience more positive.

Example: “When I was working as an advisor at my previous company, one of my clients had been having some trouble with his investments. He wasn’t sure what he should do about it, so I offered to help him by researching the issue and finding out if there were any other options available to him. After doing some research, I found that there was another investment option that would have better suited his needs. I explained everything to him and helped him make the switch.”

16. Which platforms are you most familiar with?

LPL Financial uses a variety of platforms to help their clients. The interviewer wants to know if you have experience with the company’s most commonly used platforms. If you don’t, it is important to show that you are willing to learn and adapt quickly.

Example: “I am familiar with LPL Financial’s Wealth Management Platform, which I use regularly in my current role. It allows me to manage client accounts, create financial plans and monitor investment performance. I also have some experience using the Advisor Workstation platform, although I haven’t had much opportunity to use it yet.”

17. Provide an example of a time where you had to prioritize competing tasks.

This question is a great way to assess your time management skills and ability to prioritize tasks. When answering this question, it can be helpful to mention the steps you took to complete each task in a timely manner.

Example: “At my previous job, I had to balance multiple projects at once while also meeting deadlines for clients. One day, I was working on a project that required me to create a financial plan for a client. At the same time, I was also helping another client with their retirement account. In both cases, I needed to ensure they were getting the best service possible. To manage these two tasks, I set aside specific times of the day where I would focus on one task or the other.”

18. What processes do you use to ensure that you accurately perform your job responsibilities?

LPL Financial wants to ensure that you have the ability to perform your job responsibilities and complete them accurately. They want to know what processes you use to make sure you’re doing your job correctly, so they can be confident in hiring you.

Example: “I always double-check my work before submitting it for approval. I also take notes during client meetings to help me remember important information about their accounts. I’m a fast typist, so I type as much of my daily work as possible while on calls with clients or prospects. This helps me stay organized and ensures that I don’t miss any deadlines.”

19. Describe your experience working with multiple teams to get a project done.

LPL Financial asks this question to learn more about your teamwork skills. Use your answer to explain how you collaborate with others and manage multiple projects at once.

Example: “In my current role, I work on a team of five people who help me meet client needs. We each have our own responsibilities, but we also communicate regularly to ensure that everyone is meeting their goals. For example, if one person has an issue or concern, the rest of us will pitch in to help resolve it. This helps us all get our work done while maintaining high-quality service for clients.”

20. Talk about a time that you didn’t agree with your team members but still managed to successfully complete a task.

This question can help the interviewer learn more about your ability to work with others and how you resolve conflicts. Use examples from previous jobs or describe a time when you disagreed with someone but still managed to complete a task successfully.

Example: “In my last position, I had a disagreement with one of my team members over which financial products were best for our clients. However, we both agreed that it was important to find solutions that would benefit our clients. We worked together to research different options and found that some of the products we initially recommended weren’t as beneficial as we thought. After researching further, we determined that other financial products would be better suited for our clients.”